Malaysia Shipping Group MISC Berhad subsidiary AET recently signed a memorandum of understanding with Thailand's state-owned oil and gas company PTT, to develop and build two zero-emission green ammonia-powered Alfra oil tankers.
According to the Memorandum of Understanding, AET will select a suitable shipyard to order new ships. The two zero-emission dual-fuel tankers are expected to be delivered in the fourth quarter of 2025 and the first quarter of 2026, respectively, at which time the long-term charter contract with PTT will begin. "The signing of this memorandum of understanding marks another important milestone in our growing partnership with PTT, as both of us place great emphasis on promoting the decarbonization process of the shipping industry in 2050," said Rajalingam Subramaniam, president and CEO of
AET and familiar operations officer of MISC Group. "This memorandum of understanding provides a way to collaborate in design, safety and operations and crew retraining to achieve the 2050 environmental agenda as soon as possible before potential investment in this innovative project."
MISC launched the Joint Development Project of Ammonia Powered Oil Tankers (JDP) in 2020 with South Korea's Samsung Heavy Industries, UK's Lloyd's Distribution Society (LR) and German engine manufacturer MAN Energy Solutions. Initiative. Last year, Singapore's Maritime and Port Authority (MPA) and Norwegian fertilizer company Yara International also became project partners to jointly develop ammonia-powered oil tankers.
ammonia is considered one of the most promising alternative fuels to achieve the goal of zero-carbon shipping. Partners hope to make zero-emission shipping a reality by unleashing the potential of ammonia as the next-generation ship fuel.
Subramaniam noted: “The collaboration with PTT will complement The Castor Initiative project. With these latest net zero emission vessels, AET will further promote the development of sustainable shipping to meet the IMO’s 2030 greenhouse gas emission reduction targets and our entire MISC Group’s commitment to net zero greenhouse gas emissions by 2050.”
